As the Covid-19 pandemic gripped businesses all over the world, many turned to automation technology and artificial intelligence for help, and are producing stellar results.
A new report from Deloitte, based on a poll of 441 executives from 29 different countries, claims that two thirds of business leaders (68 percent) used automation to tackle the coronavirus crisis, bringing the total number of businesses using the modern tech to about 73 percent. The figure is up from 48 percent last year.
Furthermore, the number of businesses that deployed automation at scale tripled in the last two years. The number of businesses with 50 and more automations almost doubled in a year, and tripled in the last two years.
Deloitte's latest UK CFO survey also argues that we’re just seeing the beginning of business transformation, as it now considered the biggest investment for the next year. Two thirds of CFOs in the UK expect their business to invest more in organization and business process improvements, such as restructuring, streamlining and automation.
Implementing the new technology, however, is not without its challenges, and if businesses are to continue on this path, they will need to retrain and upskill their workforce. The report says that over the next three years, business leaders can expect to have to retrain a third of their workforce.
Today, almost a quarter (23 percent) of workers experienced their roles changing because of automation. A tenth has already had to retrain due to the significant changes brought upon them by the tech.
Deloitte’s full report can be found on this link.